This has never happened to me before...
I got the Bank of America Travel Rewards Visa (Sig version) in April 2014. They started me at APR of 22.99% (yuck) which was due to kick in after the promo period ends next year. I have used the card regularly (~$500-700/month; PIF before statement cuts).
Imagine my surprise reviewing the statement this month...APR adjusted down to 14.24%. Pretty awesome!
My question is...do banks adjust APR's often (without being asked)? I have always worked under the assumption that your APR was basically set unless you asked for a review (and even then a reduction may not be granted). I know adjustments work in the other direction (Citi once adjusted my APR from 9.99 to 21.99 for being two days late!)
Anyway, I PIF so it doesn't really affect me either way but it's nice to know BOA rewards customer performance!
Congrats on the lowered APR. I want this same question answared for myself too 
Kudos. I happen to be one of those unlucky ones who have a nasty APR the same rate with Discover.
It is very refreshing to see that BofA is willing to slice n dice APR's without asking 
That's awesome. Maybe a little incentive for you to consider carrying a balance sometimes since you always PIF. Lol. Nice hearing thing like this though that's for sure.
Congrats
@Dw4250 wrote:This has never happened to me before...
I got the Bank of America Travel Rewards Visa (Sig version) in April 2014. They started me at APR of 22.99% (yuck) which was due to kick in after the promo period ends next year. I have used the card regularly (~$500-700/month; PIF before statement cuts).
Imagine my surprise reviewing the statement this month...APR adjusted down to 14.24%. Pretty awesome!
My question is...do banks adjust APR's often (without being asked)? I have always worked under the assumption that your APR was basically set unless you asked for a review (and even then a reduction may not be granted). I know adjustments work in the other direction (Citi once adjusted my APR from 9.99 to 21.99 for being two days late!)
Anyway, I PIF so it doesn't really affect me either way but it's nice to know BOA rewards customer performance!
Wow, that's a very nice APR decrease. Congrats!
When I asked Discover for a lower APR, rep mentioned they do review accounts and lower APRs sometimes. And I know my brother got an APR decrease, without asking, on his Freedom a few months back. It happens, but I have no idea how often.
